“Chesapeake's oil and gas assets are much more valuable and important than their real estate assets,” said Gheit, an analyst with Oppenheimer in New York. “These are very small numbers compared to their $15 billion asset sales program. Real estate makes headlines, but has little impact on the company.”
Chesapeake announced in June that would cut its staff in Fort Worth and Cleborn by about 70 employees, or about 8 percent. The company since has sold its midstream business, which represented about 200 North Texas jobs.
Chesapeake now has about 500 employees in the area, including about 100 in the regional headquarters, Wilson said.
“We are through with our transitions here,” she said. “We will continue to be a dynamic company and shift human resources and assets where they need to be shifted, but we're pretty stable in the Barnett here.”
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